The President

18-Mar-2020

African Development Bank announces bold measures to curb coronavirus

The African Development Bank on Wednesday announced health and safety measures to help prevent the spread of the coronavirus in countries where it has a presence, including its headquarters in Abidjan. The measures include telecommuting, video conferencing in lieu of physical meetings, the suspension of visits to Bank buildings, and the cancelation of all travel, meetings, and conferences, until further notice. Bank President Akinwumi Adesina made the announcements at a Bank-wide virtual Town Hall meeting from the institution’s headquarters in Abidjan. He stated that the measures were...
13-Mar-2020

Sierra Leone to count on African Development Bank to help build resilient economy, restore self-sufficiency in rice production

Sierra Leone will look to the African Development Bank to stimulate agribusiness development in the country with a focus on rice production, its president Maada Bio told a visiting delegation led by its president Akinwumi Adesina. Adesina began a two-day visit to Sierra Leone on Wednesday, during which he will hold meetings to discuss curbing malnutrition, creating skills and jobs for young people, rapidly scaling up economic diversification and restoring the country to self-sufficiency in rice production. “Our government is working hard to recover the economy, which was on the brink of...
11-Mar-2020

Bank President Akinwumi Adesina to visit Sierra Leone to discuss nutrition, development plan

WHO: African Development Bank Group WHAT: President Akinwumi Adesina to hold discussions with President Julius Maada Bio WHERE: Sierra Leone WHEN:  11 to 13 March 2020          Following a meeting with the President of Sierra Leone Julius Maada Bio at the AU Summit in February 2020, President Akinwumi Adesina will make a visit to the country, from 11 to 13 March. The visit presents an opportunity to deepen discussions on several fronts, particularly on how the Bank can assist...
04-Mar-2020

Nigeria: Visiting Abia State Governor seeks partnership with African Development Bank to transform state into industrial hub

A thriving entrepreneurship industry and agricultural base in Nigeria’s Abia State are the foundation for the creation of a potentially viable industrial hub, its governor Okezie Ikpeazu told the African Development Bank Tuesday. Ikpeazu met with African Development Bank President Akinwumi Adesina at the Bank’s headquarters in Abidjan, Cote d’Ivoire to discuss investment for Abia to help boost job creation and enhance livelihoods. “Our vision is to leverage the capacity of our people to become the SME capital of Nigeria.  Our people are industrious and innovative. For instance, our...
01-Mar-2020

President of The African Development Bank Receives 8th African Leadership Magazine African of The Year Award

Over 200 leading African political, business, and diplomatic leaders gathered in Johannesburg for the 8th African Leadership Magazine Persons of the Year Award dinner. They witnessed Dr. Akinwumi Adesina, President of the African Development Bank, being honored as the African of the Year 2019.   Themed ‘Africa for Africans – Exploring the Gains of a Connected Continent’, the evening brought together dignitaries including South African Deputy President, David D Mabuza, South African Ministers Nkosazana Dlamini-Zuma and Lindiwe Zulu, and Dr. Ken Giami, Publisher of African...
01-Mar-2020

Keynote Speech by Dr Akinwumi A. Adesina, President of the African Development Bank Group, on the occasion of the 8th African Leadership Persons of the Year Award Investiture Johannesburg, Saturday, 29 February 2020

Good evening to you all! It’s wonderful to be here tonight. The 2019 African of the Year Award — what an enormous honour! To say that I feel humbled is an understatement. Humbled to be recognised for my very modest achievements and contributions to Africa. Humbled to be nominated by what I gather to be the 60% of the votes cast by some one million people. Humbled to be at the helm of an organisation that is making a tremendous difference across Africa — the African Development Bank. An organisation that is making daily making prosperity a reality. Humbled to be an African...
13-Feb-2020

African Development Bank Rebuts World Bank President’s comments on Africa’s debt profile

In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank, have a tendency to lend too quickly and in the process, add to the continent’s debt problems. This statement is inaccurate and not fact based. It impugns the integrity of the African Development Bank, undermines our governance systems, and incorrectly insinuates that we operate under different standards from the World Bank. The very notion goes against the spirit of multilateralism and our collaborative work. For the...
10-Feb-2020

Canadian Prime Minister Justin Trudeau meets African leaders to advance conflict resolution and economic security

Canada’s Prime Minister Justin Trudeau convened a meeting for African heads of state, foreign ministers and representatives of the United Nations and other multilateral bodies on Monday to discuss ways to secure peace across the continent as a necessary condition for prosperity.   Trudeau, the 2020 chair of the United Nations Peacebuilding Commission, called for cooperation among international partners and governments to create economic opportunity and prosperity that is broadly shared, “…as a way not just of countering the pull of extremism in some places or the cynicism of populism...
09-Feb-2020

AU Summit: First continental report on implementation of Agenda 2063 unveiled

The African Development Bank, the United Nations, and the African Union on Saturday acknowledged the significant progress made in implementing Agenda 2063 and urged African countries to go further to fast-track economic transformation. The call was made on Saturday at the launch of the first report on the implementation of Agenda 2063 ahead of the 33rd African Union Summit in Addis Ababa. The report provides an assessment of the progress and performance of Africa’s development between 2013 and 2019. Unveiling the implementation report, President Alassane Ouattara of Côte d’Ivoire noted...
09-Feb-2020

AU Summit: African leaders call for action to end malnutrition by 2025

African countries have made progress toward eradicating malnutrition and stunting but need to do more to hit United Nations malnutrition targets by 2025. This was the main message of a meeting that took place during the 33rd African Union Summit. Speakers at a meeting of the African Leaders for Nutrition (ALN) included the heads of state of Madagascar, Cote d’Ivoire and Sierra Leone, national ministers of health as well as African Development Bank President Akinwumi Adesina, head of the African Development Bank. Leaders acknowledged the scope of the challenge but sounded a note of...
07-Feb-2020

African Development Bank President Akinwumi Adesina to lead delegation to 33rd African Union Summit

The president of the African Development Bank Akinwumi Adesina is expected in the Ethiopian capital for the African Union’s 33rd Assembly of Heads of State and Government. The summit runs from 8-10 February 2020 under the theme: Silencing the Guns: Creating Conducive Conditions for Africa’s Development.  Adesina will arrive in Addis Ababa with a full slate of talks and meetings ahead of him. These include the African Peer Review Mechanism’s annual forum; an African Leadership for Nutrition high-level dinner; and bilateral meetings with, among others, the president of Sierra Leone...
03-Feb-2020

Provide young people with new skills to meet the needs of a 21st century labor market, African Development Bank report urges

"Youth must be prepared for the jobs of the future – not the jobs of the past," African Development Bank President Akinwumi Adesina said on Thursday at the launch of the Bank's flagship African Economic Outlook. "Given the fast pace of change, driven by the 4th industrial revolution – from artificial intelligence to robotics, machine learning, quantum computing – Africa must invest more in re-directing and re-skilling its labor force, and especially the youth, to effectively participate," the Bank president said. The African Economic Outlook is an annual report that provides...
30-Jan-2020

Speech delivered by Dr. Akinwumi A. Adesina, President, African Development Bank at the launch of the African Economic Outlook, 2020.

Good afternoon everyone! Welcome to the African Development Bank for the launch of the 2020 African Economic Outlook. The African Economic Outlook is the flagship publication of the African Development Bank that projects economic growth trends on the continent and discusses policy approaches that can be used to improve economic growth and development. There is nothing like local knowledge. The African Development Bank (the Bank) speaks authoritatively on Africa, through its African Economic Outlook, because of its unparalleled local knowledge and close partnerships with...
29-Jan-2020

‘Agriculture is the most important business in the world,’ African Development Bank President Akinwumi Adesina tells students

African Development Bank President Akinwumi Adesina reminded students of the important role they have to play in the continent’s economic development, as he was conferred with an honorary doctorate in his homeland. The Doctorate of Science was awarded by the Federal University of Agriculture in Abeokuta, Nigeria, on Tuesday, in honor of Adesina’s work in agriculture and food security across the continent. Lauding the choice of Adesina as the institution’s 2020 awardee, the Chancellor, Edidem Ekpo Okon Abasi-Otu, described him as a global household name whose exploits in promoting value...
23-Jan-2020

African Development Bank President Akinwumi Adesina opens trading on London Stock Exchange

Don Robert, Chairman of London Stock Exchange Group, welcomed the president of the African Development Bank to open markets for trading at London Stock Exchange on Wednesday 22 January. The reception in London followed the African Development Bank’s Africa Investment Forum, held in November last year. The innovative market-place for accelerating investment into the continent is playing a valuable role in convening investors and corporates and removing the bottlenecks to investments and enabling a free flow of long-term capital. The 2019 edition of the Forum, held in Johannesburg, South...
22-Jan-2020

Remarks Delivered by Dr. Akinwumi A. Adesina, President of the African Development Bank Group at the London Stock Exchange, London United Kingdom, January 22, 2020

Good morning! I would like to thank Don Robert, the Chairman of the London Stock Exchange Group for inviting me to the exchange. It’s great to be here! It’s such an honor and privilege to be asked to open the market today. The London Stock Exchange is the 3rd largest in the world with a market capitalization of about $4.6 trillion. And Africa is tapping into the London Stock Exchange. In 2019, Africa had 110 companies listed on the London Stock Exchange, with market capitalization of $197 billion. As wealth grows in Africa, it leads to wealth right here also in the United...
22-Jan-2020

Keynote Speech Delivered by Dr. Akinwumi A. Adesina, President, African Development Bank, at the Parliamentary Symposium on UK-Africa Trade and Brexit, at the House of Commons, London, January 21, 2020

Honorable Members of the House of Commons and the House of Lords, distinguished guests, ladies and gentlemen, Good morning! Thank you, Honorable Chi Onwurah, Chair of the All-Party Parliamentary Group for Africa, for the invitation to speak to you today at this Parliamentary Symposium on the theme UK-Africa Trade and Brexit. I feel greatly honored. I would also like to thank the Royal African Society, Oxford Brookes University and the Trade Justice Network for organizing this event. As you would have noticed, the presence of all of us from Africa, with Presidents and Heads of State...
21-Jan-2020

Ride the wave of the African Continental Free Trade Area, African Development Bank president Adesina Urges UK investors

Africa is on the cusp of unmatched economic transformation, and the UK must engage in a “partnership of change,” African Development Bank President Akinwumi Adesina said Tuesday in a keynote address at a UK Parliamentary Symposium. “The Africa of the 21st century is very different. The Africa of the 21st century is new and more confident,” he said. The Symposium was co-organized by the All-Party Parliamentary Group for Africa with the Royal African Society, Oxford Brookes University, and the Trade Justice Network under the theme UK-Africa Trade and Brexit.  The Bank’s...
21-Jan-2020

Keynote Speech delivered by Dr. Akinwumi A. Adesina at the UK-Africa Investment Summit, “Sustainable Infrastructure Forum” London, January 21, 2020

Good morning everyone! It’s a pleasure to join you at this special side event organized as part of the UK-Africa Investment Summit. Let me congratulate the organizers, the Department for International Development (DFID) and Her Majesty’s Trade Commissioner for Africa for hosting us today. The DFID is a key strategic partner of the African Development Bank. Since joining the African Development Bank in 1983, the DFID has been a lead supporter of the African Development Bank. It’s strong and consistent support for the African Development Fund has helped us to support the development of...
17-Jan-2020

African Development Bank's Akinwumi Adesina heads to UK-Africa investment summit: Revitalizing economic ties top of agenda

New opportunities for bi-lateral trade and increasing UK investor appetite in Africa will be the main focus of the UK-Africa summit, convened by Prime Minister Boris Johnson, on January 20th. African Development Bank President Akinwumi Adesina is expected in London for the milestone investment summit aimed at forging new partnerships under the theme: ‘Partners for prosperity.’ Africa, a continent brimming with investment opportunities, is home to six of the ten fastest-growing economies in the world.  The Summit will bring together businesses, governments, and international...